Shares of Larsen & Toubro Ltd (L&T) rose 1% to touch a day’s high of Rs 3,634.10 on 4th August after the company announced that its renewables business has secured a ‘significant’ order to develop a 116 MWac grid-connected solar photovoltaic (PV) plant integrated with a 241 MWh battery energy storage system (BESS) at Kajra in Bihar’s Lakhisarai district.

L&T classifies orders worth Rs 1,000 crore to Rs 2,500 crore as “significant.”

This EPC order extends the earlier phase, raising the co-located storage capacity at the Lakhisarai renewable site to 495 MWh — the largest such project awarded by a state utility in India. The four-hour BESS will enable energy time-shifting, storing surplus solar power for use during periods of peak demand. It will use liquid cooling technology for higher power density, improved safety, and longer operational life.

The project supports the Centre’s push for co-located renewable energy storage, aids Bihar’s Jal Jeevan Hariyali Abhiyan, and will boost job creation and energy security.

Earlier, L&T’s renewables business secured an EPC order for a 275 MW solar PV project in Gujarat.

For Q1, L&T posted a 29% rise in net profit to Rs 3,617 crore from Rs 2,786 crore last year. Revenue grew 15.5% to Rs 63,678 crore, while EBITDA increased 12.5% to Rs 6,316 crore. EBITDA margin fell slightly to 9.9% from 10.2% last year.

At 2:10 PM, the shares of L&T were trading 1.24% higher at Rs 3,631.90 on NSE.

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